Tag: Nestle

Nestle floats Cuba factory costing CHF54 million
Global

Nestle floats Cuba factory costing CHF54 million

Nestle has started construction on a new factory in Cuba, to meet growing consumer demand and strengthen its presence on the island. Nestlé said it is investing CHF 54 million in the factory, which will employ 260 people by its third year. The site will produce the world’s leading coffee brand Nescafé, the […]

Nestle’s head of tech, Stefan Catsicas resigns
Global

Nestle’s head of tech, Stefan Catsicas resigns

Nestle SA said Stefan Catsicas, its head of technology has resigned to pursue entrepreneurial and venture capital activities outside of Nestlé. Stefan Catsicas has led Nestlé Research through considerable change, improving alignment with business and operations, promoting scientific breakthroughs and leveraging cross-discipline discoveries. He will leave Nestlé effective December 31, […]

Nestle posts weaker turnover for nine months
Global

Nestle posts weaker turnover for nine months

Swiss foods company, Nestle said its turnover for the first nine months fell to CHF65,272 million compared to CHF65,514 million disclosed last year. Mark Schneider, Nestlé CEO said “Our sales results for the nine-month period are in line with our expectations communicated in July. Organic sales growth continued to benefit […]

Nestle targets 17.5% to 18.5% profit margin by 2020
Global

Nestle targets 17.5% to 18.5% profit margin by 2020

Swiss foods giant, Nestle has announced an underlying trading operating profit margin target of 17.5% to 18.5% by 2020, up from 16.0% in 2016. The plan will be presented at its investor seminar today in London, Nestlé will present its strategy for sustainable value creation. Nestlé will describe its plans […]